ICON Outlet at The O2, the new 210,000 sq ft premium urban outlet developed by AEG and Crosstree Real Estate Partners has officially opened, partnering with Coniq to deliver a pioneering vision to use data to improve the retail experience and create a new level of information-sharing between retailers and the landlord.
ICON Outlet is the most exciting development to open in the capital for years. Bringing shopping to The O2 for the first time, ICON Outlet marks the first premium lead fashion, lifestyle and accessories urban outlet in London. It aims to fuse retail and entertainment by developing previously unprecedented levels of customer insight into visitor demographics and their shopping behaviours. This insight will enable the centre to understand the specific demographics of its various target customers; event goers, shoppers and leisure led customers and their behaviour. At the same time, retailers will collectively benefit from sharing data to assess and benchmark their performance against peers within the outlet.
The ICON-Coniq partnership has realised a number of firsts in Coniq’s history.
Ahead of the launch, Coniq achieved 100% brand participation for the initiative, with every retailer using the Coniq system to share End-of-Day-Sales data, including total gross and net value as well as transactions and units per store. This gives ICON Outlet a detailed real-time view of the centre performance and allows them to fine tune their proposition dynamically around up-coming events, and the changing profile of the visitors.
Ben Chesser, CEO of Coniq, said, “ICON Outlet is an exciting new outlet with bold plans to use data to enhance the customer experience – for the first time across an entire mall, brands are sharing their transaction level data, this will have a huge benefit to all the retailers as they can target new customers better, compare their performance and understand the behaviours of their most valuable shoppers.”
“The Coniq platform operates in real-time which allows ICON Outlet to maximise customer experience and retailer revenue at the same time – a real win-win.”
ICON Outlet is divided into themes which reflect consumer trends and behaviour, these include ‘Best of British’ highlighting quality and heritage, ‘Global fashion’, featuring premium brands from across the globe, ‘Beauty and accessories’ and ‘Sports and lifestyle’ which boasts some of the most exciting names in athleisure.
Commenting on behalf of AEG and Crosstree, Marion Dillon, leasing director for ICON Outlet, said, “ICON Outlet’s four key themes encapsulate the demands of next-generation consumers, enhancing the world’s most popular music and entertainment venue by truly merging retail, leisure, dining, and entertainment for the very first time, understanding how these elements interplay will be a key success driver.”
ICON Outlet will host a range of experience-led services, including personal shoppers and stylists, hands-free shopping, and unique event shopping packages. Coniq is working with ICON Outlet to grow a customer database ahead of next year’s launch of ICON Club, the outlet’s new loyalty program; insight from the program will help the outlet identify the most valuable customers and enable greater personalisation of the customer experience with relevant rewards and offers.
Phase two of the development will add further retail stores alongside restaurants, cafés, and bars, Hollywood Bowl and the extended 19 screen Cineworld Cinema. When completed, ICON Outlet will consist of 85 stores.
About ICON Outlet
ICON Outlet is a joint venture between AEG and Crosstree Real Estate Partners. The 210,000 sq. ft. premium urban outlet brings shopping for the first time to The O2, the world’s most popular music and entertainment venue. Together with the construction of a 50,000 sq. ft. cinema extension and a 30,000 sq. ft. trampoline park, leased to Oxygen Freejumping, The O2’s offering is evolving to reflect the consumer-led convergence of retail, leisure and entertainment. ICON Outlet provides the best of accessible premium fashion and lifestyle brands and is just 15-minutes from central London, served by the Jubilee Line, MBNA Thames Clippers, bus services, Crossrail (at Canary Wharf from 2019), and the Emirates Airline.
